USD 0.67 billion
Report ID: SQSG50A2002 | Region: Global | Published Date: November, 2022 | Pages: 157 | Tables: 162 | Figures: 78
Mobile Edge Computing Market size was valued at USD 0.67 billion in 2021 and is poised to grow from USD 1 billion in 2022 to USD 37.87 billion by 2030, growing at a CAGR of 49.7% in the forecast period (2023-2030).
Mobile edge computing (MEC) also called multi access edge computing is a type of edge computing that expands its capabilities by bringing cloud computing to the network's edge. MEC permits operations to take place in base stations, central offices, and other aggregation points on the network, as opposed to traditional cloud computing, which takes place on remote servers located far from the user and device. MEC improves the quality of experience (QoE) for end users by offloading cloud computing workloads to specific local servers. This helps reduce congestion on mobile networks and decrease latency.
Drone detection and video analysis are some applications that make use of mobile edge computing. These applications include augmented reality (AR), enterprise mixed reality (MR), and virtual reality (VR), as well as multiplayer and cloud gaming. MEC has grown to be essential in the mining, energy, and utility sectors as well. Offshore mining operations have traditionally used satellite technology as their primary method of communication, as well as hybrid storage and cloud computing strategies for data processing and transfer, which has resulted in a loss of resources and time. End-use businesses are now more dependable storage and communication systems to analyse massive amounts of data created at remote locations as a result of the need for improvement on these fronts. Edge computing and big data analytics combined may provide the market with promising growth opportunities. Multi-access edge computing is being used more and more by service providers across industries, including financial services, manufacturing, energy, and agriculture, to improve their ability to make business decisions, access financial instruments, and gather competitive intelligence.
US Mobile Edge Computing Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 0.67 billion
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Global Mobile Edge Computing Market is segmented based on the component, end use, organization size, verticals, application, and region. Based on component, the Mobile Edge Computing Market is segmented into Hardware, Software and Services. On the basis of end use, Mobile Edge Computing Market is categorized into IT & Telecom, Smart Cities, Smart Homes, & Smart Buildings, Datacenters, Energy & Utilities, Automotive and others. According to organization size the market is bifurcated into large enterprise and SMEs. According to verticals the market is sub segmented into Manufacturing, Energy and Utilities, Government and Defense, Telecommunications, Media and Entertainment, Retail and Consumer Goods, Transportation and Logistics, Healthcare and Life Sciences and others. On the basis of application it is segmented into Location-based Services, Unified Communication, Optimized Local Content Distribution, Data Analytics and Environmental Monitoring. Based on Region Mobile Edge Computing Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Mobile Edge Computing Market Analysis by Component
The hardware segment dominated the market of mobile edge computing in 2021. This can be attributed to the telecom sector's expanding use of 5G technology, which drives up demand for mobile edge computing hardware. Real-time decision-making is necessary for the control of autonomous vehicles, which are also becoming more and more common. For processing large amounts of data in real-time, high-performance MEC hardware is essential. Leading companies in the market are creating and introducing advanced hardware. To meet the needs of the user and ensure serviceability, availability, and reliability, businesses are offering small, affordable, and customizable products.
The software segment is anticipated to account for substantial market growth during the forecast period. Multiple IoT devices are available within a MEC-based ecosystem, which decreases the need for specialised software that operates and performs in accordance with the MEC architecture. Additionally, solution providers like Verizon have started to provide software development kits to their clients, allowing internal teams to develop programmes that are tailored to the needs and objectives of the company. The demand for software that can provide distributed processing, multi-level load balancing, and content synchronisation is accelerating the growth of the software market.
Mobile Edge Computing Market Analysis by Application
Location based segment dominated the market share of global mobile edge computing market in 2021 owing to the development of new technologies and sophisticated data transmission methods like 5G and cloud computing. A location-based service provides applications with permission or mobile edge platforms with location-based data. To perform active device location tracking and location-based service recommendation, the mobile edge platform or applications use location-related information.
Unified communication segment is expected to grow at a high CAGR during the forecast period. The term "unified communications" refers to the consolidation of various enterprise communication tools, such as voice calling, video conferencing, Instant Messaging (IM), presence, and content sharing, into a single, streamlined interface. There is a high demand for mobile edge computing technology as a result of the replacement of fixed communication hardware with smartphones and cloud platforms. This technology's deployment enables enterprise applications to efficiently use unified communication tools.
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North America dominated the Global Mobile Edge Computing Market and accounted for approximately 43% revenue share in 2021. This is caused because of the expanding use of cutting-edge technologies and growing demand for network devices. Additionally, there is a significant demand for MEC technology throughout the region, particularly in the United States and Canada, due to the expanding telecommunications sector and the increasing adoption of cloud services by businesses. The United States is a significant centre for cloud service providers, which offer cloud platforms all over the world. The three most popular cloud computing platforms are Google Cloud, Amazon Web Services, and Microsoft Azure. Edge computing strategies are being created and added to their platforms.
Asia Pacific region is anticipated to grow at the fastest growth rate during the forecast period. This is a result of rising investments in cloud and Internet of Things (IoT) technologies and widespread use of smart devices, particularly in China, Japan, and India. AI and IoT will have more industrial applications in China as local businesses accelerate their digital transformation and implement cutting-edge technologies to increase productivity and cut costs. By 2025, it is anticipated that 60 percent of Chinese businesses will be fully digital, supporting the market's anticipated revenue expansion. India is gradually becoming more digitalized overall.
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Mobile Edge Computing Market Driver
Mobile Edge Computing Market Restraint
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Global Mobile Edge Computing Market is moderately fragmented due to few major and medium‑size players. To increase their market share, the major companies in the international market are implementing a variety of business tactics, including mergers and acquisitions, expansions, and investments. Major players include Adlink Technology Inc., Artesyn Embedded Technologies Inc., Juniper Networks, Inc., IBM Corporation and Intel Corporation. Leading companies are also working with companies that are promoting multi-access edge computing.
Mobile Edge Computing Market Top Player's Company Profiles
Mobile Edge Computing Market Recent Developments
Introduction of Advanced Technologies to Boost Mobile Edge Computing Market Growth
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According to our Global Mobile Edge Computing Market analysis, the demand for low-latency networks, localised data, and enhanced IoT is driving the market growth. The quality of experience (QoE) has been enhanced by mobile edge computing in a number of sectors, including entertainment, manufacturing, and transportation. Additionally, independent public cloud service providers, networking companies, industrial automation companies, and software suppliers are all making inroads into the MEC market to take advantage of the promising growth prospects the dynamic technology market presents. In order to position themselves as significant facilitators, new entrants and startups are working to create innovative strategies and solutions. These factors are expected to boost the market growth in upcoming years.
|Market size value in 2021||USD 0.67 billion|
|Market size value in 2030||USD 1 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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For the Global Mobile Edge Computing Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Mobile Edge Computing Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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